Irish bond yields drop sharply on ESM news

UPDATE: Irish bond yields dropped sharply as markets welcomed a German court ruling that cleared the way for the European Stability Mechanism to be established soon.

12th September, 2012
Irish bond yields drop

Irish bond yields dropped today as markets welcomed a German court ruling that cleared the way for the European Stability Mechanism (ESM) to be established soon.

The benchmark nine-year Irish bond yield fell 18 basis points to 5.42 per cent.

Portuguese debt yields also fell and Spanish ten-year yields fell ten basis points to 5.59 per cent.

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